US-based private equity firm Wind Point Partners has purchased private label pork rind snack manufacturer Evans Food Group.
With the acquisition, Jose Luis Prado will join the Evans Food Group as its chairman and chief executive officer.
Involved in the global snack industry for 30 years, Prado was recently announced as the president of Quaker Oats North America and is the former president and CEO of Grupo Gamesa-Quaker in Mexico.
The partnership between Wind Point and Luis Prado will work in close collaboration with Evans Food Group co-founder and chairman Alejandro Silva, who will be a member of Evans' board of directors.
Wind Point managing director Mark Burgett said: "Wind Point's partnership with Jose Luis, a top calibre global executive in the food industry, along with our proven track record and depth of experience in food investments, creates an excellent opportunity to drive continued growth at Evans."
The transaction terms for the acquisition have not yet been disclosed.
The financing related to the buy-out has been led by BMO Harris Bank National Association and Antares Capital.
Prado said: "I believe that Evans' preferred products, advantaged manufacturing footprint, solid portfolio of national and regional brands, great team and partnership with Wind Point will enable us to pursue a wide array of domestic and international opportunities."
Founded in 1947, Evans is present in the US, Canada and other 13 countries across Latin America and Asia.
